Currency rates retreated further from historic highs on Monday  as the Central Bank of Iran intensified efforts to intervene in the chaotic market.Gold saw a similar fate.

The US dollar dropped to 309,000rials in Iran`s open market ,down2.7%or  9,000 rials, compared with Sunday`s close.

After reaching another record high of 322,000rials last Thursday ,the greenback`s rise took a recess Sunday ,bucking a rising trend that lasted for nine sessions in a row.

The Emirati dirham,a highly influential currency in Iran`s forex market,lost 1,700rials or 2%to reach 86,000 rials on Monday.

Decline in forex rates came amid intervention by the CBI that has started pumping currency in the market to try and put a brake on the historic price rises.